Sequoia Financial Advisors LLC grew its holdings in shares of The Charles Schwab Co. (NYSE:SCHW - Free Report) by 548.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 327,741 shares of the financial services provider's stock after purchasing an additional 277,165 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Charles Schwab were worth $21,241,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sweeney & Michel LLC lifted its stake in Charles Schwab by 25.6% in the third quarter. Sweeney & Michel LLC now owns 6,529 shares of the financial services provider's stock valued at $466,000 after purchasing an additional 1,330 shares during the last quarter. Calton & Associates Inc. raised its stake in shares of Charles Schwab by 17.3% in the third quarter. Calton & Associates Inc. now owns 4,094 shares of the financial services provider's stock valued at $265,000 after buying an additional 605 shares during the period. Foundations Investment Advisors LLC lifted its position in shares of Charles Schwab by 5.3% during the 3rd quarter. Foundations Investment Advisors LLC now owns 23,528 shares of the financial services provider's stock valued at $1,525,000 after buying an additional 1,186 shares during the last quarter. Raleigh Capital Management Inc. grew its stake in shares of Charles Schwab by 32.2% during the 3rd quarter. Raleigh Capital Management Inc. now owns 1,010 shares of the financial services provider's stock worth $65,000 after acquiring an additional 246 shares during the period. Finally, GFG Capital LLC increased its holdings in Charles Schwab by 3.3% in the 3rd quarter. GFG Capital LLC now owns 38,310 shares of the financial services provider's stock worth $2,483,000 after acquiring an additional 1,234 shares during the last quarter. 84.38% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have weighed in on SCHW shares. JPMorgan Chase & Co. increased their target price on shares of Charles Schwab from $86.00 to $87.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 16th. TD Cowen reiterated a "hold" rating and issued a $71.00 price objective (down from $88.00) on shares of Charles Schwab in a research note on Wednesday, July 17th. Raymond James dropped their target price on Charles Schwab from $76.00 to $73.00 in a research report on Tuesday, October 15th. Piper Sandler lifted their price target on Charles Schwab from $64.00 to $65.00 and gave the company a "neutral" rating in a research report on Wednesday, October 16th. Finally, JMP Securities boosted their price objective on Charles Schwab from $82.00 to $84.00 and gave the company a "market outperform" rating in a research note on Wednesday, October 16th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Charles Schwab has an average rating of "Hold" and a consensus price target of $73.59.
Check Out Our Latest Stock Report on SCHW
Charles Schwab Price Performance
Shares of NYSE:SCHW traded up $0.04 during trading on Tuesday, reaching $70.91. The company had a trading volume of 5,559,229 shares, compared to its average volume of 8,092,227. The company has a fifty day moving average of $65.32 and a two-hundred day moving average of $69.48. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $126.11 billion, a P/E ratio of 27.70, a price-to-earnings-growth ratio of 1.65 and a beta of 0.97. The Charles Schwab Co. has a 12 month low of $48.66 and a 12 month high of $79.49.
Charles Schwab (NYSE:SCHW - Get Free Report) last released its earnings results on Tuesday, October 15th. The financial services provider reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.02. Charles Schwab had a return on equity of 17.52% and a net margin of 27.47%. The business had revenue of $4.85 billion for the quarter, compared to analysts' expectations of $4.78 billion. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that The Charles Schwab Co. will post 3.11 earnings per share for the current year.
Charles Schwab Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Friday, August 9th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 1.41%. Charles Schwab's payout ratio is 39.06%.
Insiders Place Their Bets
In other news, insider Paul V. Woolway sold 1,150 shares of the business's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the sale, the insider now directly owns 61,887 shares in the company, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Paul V. Woolway sold 1,150 shares of the business's stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $65.20, for a total value of $74,980.00. Following the completion of the sale, the insider now owns 61,887 shares of the company's stock, valued at approximately $4,035,032.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Charles R. Schwab sold 67,386 shares of the firm's stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $65.11, for a total value of $4,387,502.46. Following the transaction, the chairman now owns 60,619,371 shares in the company, valued at approximately $3,946,927,245.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 182,001 shares of company stock valued at $12,512,592 over the last quarter. 6.60% of the stock is owned by corporate insiders.
Charles Schwab Company Profile
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Free Report)
The Charles Schwab Corporation, together with its subsidiaries, operates as a savings and loan holding company that provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services in the United States and internationally. The company operates in two segments, Investor Services and Advisor Services.
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